Month: December 2020

TheTruth About Oil

Admin

The report by a five-member commission set up by the prime minister in July to look into the oil crisis, which hit the country in June this year, does not make for pleasant reading. The report which has been made public blames Ogra, the Ministry of Petroleum, private oil companies and others involved in the delicate business of purchasing and regulating oil, for the crisis. As Geo TV has been repeatedly reporting and highlighting, notably in its show hosted by Shahzeb Khanzada, the oil crisis began when global prices fell…

Read More

CDWP Approves one Project, Five Position Papers

Admin

ISLAMABAD: The Central Development Working Party (CDWP) has approved one project at the cost of Rs7.25 billion, and five position papers at the cost of Rs21.10 billion, and referred two position papers worth Rs37.23 billion to the Executive Committee of the National Economic Council (Ecnec) for final approval. The CDWP met with Deputy Chairman Planning Commission Mohammad Jehanzeb Khan at P Bock Secretariat on Wednesday. Secretary Planning Mathar Niaz Rana, senior officials from the Planning Commission and federal ministries/divisions also participated in the meeting, while representatives from the provincial governments…

Read More

SSGC increases LPG procurement to offset gas shortfall

Admin

KARACHI: Sui Southern Gas Company (SSGC) has jacked up procurement of imported liquefied petroleum gas (LPG), and issued 15 tenders for supply of locally available imported LPG with delivery windows ranging January to June 2021. The southern gas utility supplies synthetic natural gas during high demand as an alternate to piped gas. SSGC would procure at least 37,500 metric tons LPG with the option to double or triple the procurement. “Sealed quotations are invited for supply of imported LPG locally available in parcel size up to 2,500 tons. The company…

Read More

Govt forms body to address SSGC’s concern

Admin

The government has constituted a committee to address Sui Southern Gas Company’s (SSGC) repeated claim of recovering RLNG losses worth Rs7.7 billion from consumers of imported gas after the Oil and Gas Regulatory Authority (Ogra) rejected the claim. “As per directives of the adviser on finance and revenue, a two-member committee comprising Ministry of Finance secretary and Ministry of Energy (Petroleum Division) secretary has been mandated to resolve the issue in consultation with the stakeholders,” SSGC stated in a detailed report sent to the Pakistan Stock Exchange (PSX) on Tuesday.…

Read More

Growth in Power Generation and Petroleum Sale: SBP

Admin

Despite rising COVID-19 cases, Pakistan’s industrial sector shows a recovering trend due to the Government’s smart lockdown policy, according to a recent tweet on the State Bank of Pakistan’s (SBP) official twitter page. SBP reports that easing of lockdowns has resulted in growth in power generation and petroleum product sales during the first quarter of FY21. Power generation witnessed a negative trend during the last three quarters of FY20, however power generation increased by almost 2% in 1Q FY21. Similarly, sales of petroleum products also started improving due to the…

Read More